Shanghai's booming second-hand home sales drive renovation market recovery

As second-hand home sales rise in Shanghai, the renovation and building materials market is picking up steam, with demand continuing to grow, and with renovation companies seeing a steady increase in orders.

Many home buyers in Shanghai start renovation plans immediately after completing property transactions, while also demanding better spatial layouts and smart home features.

Sun Mingda, a home buyer, bought a second-hand home of about 130 square meters in Shanghai's Minhang District in April for upgrading purposes. Concerned about aging electrical wiring, potential water leaks and outdated decoration, he plans a full-scale renovation of the entire property.

"We've estimated the renovation cost and it currently falls in the range of 450,000 to 500,000 yuan (about 67,000 to 74,000 U.S. dollars). We plan to replace many tiled areas with marble, which may push up the cost further," Sun said.

The demand for second-hand home renovations has directly boosted the building materials and home furnishing markets.

"In the first half of this year, our customized cabinet making orders grew by over 10 percent compared with the same period of last year. Consumer demand is becoming increasingly personalized," said Geng Shiliang, custom director of Mengxiang Home Furnishing (Zhejiang) Co., Ltd.

A report on home decoration consumption trends in Shanghai shows that in the first half of 2026, the market was heavily concentrated on existing homes, with 92 percent of renovation demand coming from second-hand home renovations.

In terms of budget structure, orders worth 50,000 to 120,000 yuan (7,415 to 17,796 U.S. dollars) accounted for over 65 percent. Additionally, the average decision-making cycle for Shanghai homeowners was 31 days, shortened by 23.5 percent year on year.

"Orders for renovating homes over 20 years old have more than doubled year on year. This year, for the first time, the proportion of partial renovations exceeded that of full-scale renovations. Homeowners are willing to invest more in concealed works, plumbing and electrical systems, environmental protection and space utilization," said Wang Kaiqi, general manager of Shanghai Shengdu Whole Decoration Minhang No. 1 Store.

Shanghai's booming second-hand home sales drive renovation market recovery

China's box office is continuing to enjoy a bumper summer with record-breaking numbers in both viewer attendance and screenings, as the country's "film plus" strategy continues to fuel consumer spending during the lucrative three-month summer season.

Industry data shows the summer box office revenue has surpassed 9.2 billion yuan (about 1.36 billion U.S. dollars) as of Thursday afternoon, marking a 200-million-yuan uptick on the box office earnings reported on the same day last year.

According to Maoyan, one of China major online movie ticket platforms, cinemas across the country have seen record-setting figures with over 250 million viewer admissions and a total of 32.2 million screenings taking place in theaters since the official summer box office period kicked off on June 1.

Top-earning homegrown hits include racing-comedy "Pegasus 3," Hong Kong director Stephen Chow's sports comedy "Kung Fu Soccer" about a team of female footballers, the touching family drama "Dear You," and animated film "All Wishes Come True."

Adding to the lineup is the new contender "Once Upon a Time in the Middle East," a historic comedy-drama set in a Chinese restaurant in war-torn Iraq in 2003. The film has already grossed over 400 million yuan (nearly 60 million U.S. dollars) in less than three days since its release on Tuesday.

The strong overall box office performance in recent months has been boosted by China's "film plus" strategy, a government-backed initiative that integrates cinema consumption with tourism, dining, retail, transportation, and other sectors to maximize the economic ripple effect of moviegoing.

The initiative has reinvigorated the sector, with China's total film industry output exceeding 390 billion yuan (over 57.8 billion U.S. dollars) since the beginning of the year.

Consumers are also enjoying better promotions, while average ticket prices have dropped to a 5-year low this summer season thanks to nationwide promotional campaigns.

China's summer box office sees record-breaking viewer attendance, screenings